Common use of Other Voluntary Termination by the Executive Clause in Contracts

Other Voluntary Termination by the Executive. During the Term of Employment, the Executive may effect, upon sixty (60) days prior written notice to the Holding Company, a Voluntary Termination of his employment hereunder and thereupon the Term of Employment (if not already expired) shall end. A "Voluntary Termination" shall mean a termination of employment by the Executive on his own initiative other than (a) a termination due to death or becoming Disabled (as defined in Section 11), (b) a termination for Good Reason, (c) a termination due to Retirement (as defined in Section 7.3), or (d) a termination as a result of the normal expiration of the full Term of Employment. If, during the Term of Employment, the Executive's employment is so terminated due to Voluntary Termination, the Term of Employment shall thereupon end and the Employers shall pay to the Executive the payments and benefits which the Executive would be entitled to in the event of a termination of his employment by the Employers for Cause.

Appears in 2 contracts

Samples: Employment Agreement (1855 Bancorp), Employment Agreement (First Essex Bancorp Inc)

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Other Voluntary Termination by the Executive. During the Term of Employment, the Executive may effect, upon sixty (60) days prior written notice to the Holding CompanyBank, a Voluntary Termination of his employment hereunder and thereupon the Term of Employment (if not already expired) shall end. A "Voluntary Termination" shall mean a termination of employment by the Executive on his own initiative other than (a) a termination due to death or becoming Disabled (as defined in Section 1113), (b) a termination for Good Reason, (c) a termination due to Retirement (as defined in Section 7.3), or (d) a termination as a result of the normal expiration of the full Term of Employment. If, during the Term of Employment, the Executive's employment is so terminated due to Voluntary Termination, the Term of Employment shall thereupon end and the Employers shall pay to the Executive the payments and benefits which the Executive would be entitled to in the event of a termination of his employment by the Employers for Cause.

Appears in 1 contract

Samples: Employment Agreement (First Essex Bancorp Inc)

Other Voluntary Termination by the Executive. During the Term of Employment, the Executive may effect, upon sixty (60) days prior written notice to the Holding CompanyBank, a Voluntary Termination of his employment hereunder and thereupon the Term of Employment (if not already expired) shall end. A "Voluntary Termination" shall mean a termination of employment by the Executive on his own initiative other than (a) a termination due to death or becoming Disabled (as defined in Section 11), (b) a termination for Good Reason, (c) a termination due to Retirement (as defined in Section 7.3), or (d) a termination as a result of the normal expiration of the full Term of Employment. If, during the Term of Employment, the Executive's ’s employment is so terminated due to Voluntary Termination, the Term of Employment shall thereupon end and the Employers shall pay to the Executive the payments and benefits which the Executive would be entitled to in the event of a termination of his employment by the Employers for Cause.

Appears in 1 contract

Samples: Employment Agreement (Seacoast Financial Services Corp)

Other Voluntary Termination by the Executive. During the Term of Employment, the Executive may effect, upon sixty (60) days prior written notice to the Holding Company, a Voluntary Termination of his employment hereunder and thereupon the Term of Employment (if not already expired) shall end. A "Voluntary Termination" shall mean a termination of employment by the Executive on his the Executive’s own initiative other than (ai) a termination due to death or becoming Disabled Disability (as defined in Section 1112), (bii) a termination for Good ReasonReason (as defined in Section 7.4), (ciii) a termination due to Retirement (as defined in Section 7.3), or (d) a termination as a result of the normal expiration of the full Term of Employment. If, during the Term of Employment, the Executive's ’s employment is so terminated due to a Voluntary Termination, the Term of Employment shall thereupon end and the Employers Company shall pay to the Executive an amount equal to the payments sum of (i) base salary or other compensation earned through the date of termination, plus (ii) any other compensation and benefits which as may be provided in accordance with the Executive would be entitled to in terms and provisions of any applicable plans and programs, if any, of the event of a termination of his employment by the Employers for CauseCompany.

Appears in 1 contract

Samples: Employment Agreement (Tri County Financial Corp /Md/)

Other Voluntary Termination by the Executive. During the Term of Employment, the Executive may effect, upon sixty (60) days prior written notice to the Holding CompanyBank, a Voluntary Termination of his employment hereunder and thereupon the Term of Employment (if not already expired) shall end. A "Voluntary Termination" shall mean a termination of employment by the Executive on his own initiative other than (a) a termination due to death or becoming Disabled (as defined in Section 1112), (b) a termination for Good Reason, (c) a termination due to Retirement (as defined in Section 7.3), or (d) a termination as a result of the normal expiration of the full Term of Employment. If, during the Term of Employment, the Executive's employment is so terminated due to Voluntary Termination, the Term of Employment shall thereupon end and the Employers shall pay to the Executive the payments and benefits which the Executive would be entitled to in the event of a termination of his employment by the Employers for Cause.

Appears in 1 contract

Samples: Employment Agreement (First Essex Bancorp Inc)

Other Voluntary Termination by the Executive. During the Term of Employment, the Executive may effect, upon sixty (60) days prior written notice to the Holding Company, a Voluntary Termination of his employment hereunder and thereupon the Term of Employment (if not already expired) shall end. A "Voluntary Termination" shall mean a termination of employment by the Executive on his own initiative other than (a) a termination due to death or becoming Disabled (as defined in Section 1112), (b) a termination for Good Reason, (c) a termination due to Retirement (as defined in Section 7.3), or (d) a termination as a result of the normal expiration of the full Term of Employment. If, during the Term of Employment, the Executive's employment is so terminated due to Voluntary Termination, the Term of Employment shall thereupon end and the Employers shall pay to the Executive the payments and benefits which the Executive would be entitled to in the event of a termination of his employment by the Employers for Cause.

Appears in 1 contract

Samples: Employment Agreement (First Essex Bancorp Inc)

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Other Voluntary Termination by the Executive. During the Term of Employment, the Executive may effect, upon sixty (60) days prior written notice to the Holding Company, a Voluntary Termination of his employment hereunder and thereupon the Term of Employment (if not already expired) shall end. A "Voluntary Termination" shall mean a termination of employment by the Executive on his the Executive's own initiative other than (ai) a termination due to death or becoming Disabled Disability (as defined in Section 1112), (bii) a termination for Good ReasonReason (as defined in Section 7.4), (ciii) a termination due to Retirement (as defined in Section 7.3), or (d) a termination as a result of the normal expiration of the full Term of Employment. If, during the Term of Employment, the Executive's employment is so terminated due to a Voluntary Termination, the Term of Employment shall thereupon end and the Employers Company shall pay to the Executive an amount equal to the payments sum of (i) base salary or other compensation earned through the date of termination, plus (ii) any other compensation and benefits which as may be provided in accordance with the Executive would be entitled to in terms and provisions of any applicable plans and programs, if any, of the event of a termination of his employment by the Employers for CauseCompany.

Appears in 1 contract

Samples: Employment Agreement (New York Community Bancorp Inc)

Other Voluntary Termination by the Executive. During the Term of Employment, the Executive may effect, upon sixty (60) days prior written notice to the Holding Company, a Voluntary Termination of his employment hereunder and thereupon the Term of Employment (if not already expired) shall end. A "Voluntary Termination" shall mean a termination of employment by the Executive on his own initiative other than OTHER THAN (a) a termination due to death or becoming Disabled (as defined in Section 11), (b) a termination for Good Reason, (c) a termination due to Retirement (as defined in Section 7.3), or (d) a termination as a result of the normal expiration of the full Term of Employment. If, during the Term of Employment, the Executive's employment is so terminated due to Voluntary Termination, the Term of Employment shall thereupon end and the Employers shall pay to the Executive the payments and benefits which the Executive would be entitled to in the event of a termination of his employment by the Employers for Cause.

Appears in 1 contract

Samples: Employment Agreement (First Essex Bancorp Inc)

Other Voluntary Termination by the Executive. During the Term of Employment, the Executive may effect, upon sixty (60) days prior written notice to the Holding CompanyBank, a Voluntary Termination of his employment hereunder and thereupon the Term of Employment (if not already expired) shall end. A "Voluntary Termination" shall mean a termination of employment by the Executive on his own initiative other than (a) a termination due to death or becoming Disabled (as defined in Section 11), (b) a termination for Good Reason, (c) a termination due to Retirement (as defined in Section 7.3), or (d) a termination as a result of the normal expiration of the full Term of Employment. If, during the Term of Employment, the Executive's employment is so terminated due to Voluntary Termination, the Term of Employment shall thereupon end and the Employers shall pay to the Executive the payments and benefits which the Executive would be entitled to in the event of a termination of his employment by the Employers for Cause.

Appears in 1 contract

Samples: Employment Agreement (1855 Bancorp)

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